Steps to Better Predicting the Future

Executives of all stripes are often tasked with forecasting—sales for next quarter or year, inventory levels to meet demand, or marketing budget to meet corporate goals.

However, the process of forecasting is often rife with bias, data quality issues, mathematical error, and/or poor planning assumptions. While no forecasting technique is perfect, predictions can be drastically improved through a simple technique: pulling your anchor. Read more

Executives of all stripes are often tasked with forecasting—sales for next quarter or year, inventory levels to meet demand, or marketing budget to meet corporate goals.

However, the process of forecasting is often rife with bias, data quality issues, mathematical error, and/or poor planning assumptions. While no forecasting technique is perfect, predictions can be drastically improved through a simple technique: pulling your anchor. Read moreLink to original post